Affiliates Cleared for Full Tilt Poker Payoff
Full Tilt in better days.
Affiliate partners won’t be frozen out of the impending Full Tilt Poker funds reimbursement. The announcement came late last week in an announcement posted on the company’s website.
Full Tilt affiliate partners who are still owed money must file a claim with Garden City Group by November 16, 2013.
With barely a month left before the deadline, 27,000 reimbursement claims have been filed, though the company has attempted to contact over two million former FTP players.
This news stands in stark contrast to rumors that surfaced last month claiming that affiliates and former Full Tilt employees would be excluded from the funds dispersal. Though that story was confirmed by Garden City Group, from the company stating exactly that was posted on the Facebook page of Poker Players Alliance VP, Rich Muny.
So far, there’s been no announcement regarding the fate of money owed to former FTP employees.
Earlier this year Garden City officials fretted over whether or not the nearly half a billion dollar reimbursement settlement Rational Group made with the US Government would be enough to cover all outstanding claims.
Last week’s announcement shows that there’s at least enough to cover former players and affiliates. Whether or not former FTP employees will be left out in the cold remains to be seen.
Tags: Full Tilt Poker, US Department of Justice, US Online Gambling News
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The claims site and notice says:
“the portion of their account balances that does not relate to their Affiliate status.”
So they are still not paying the affiliate’s their affiliate earnings, unless I am reading that wrong? Basically if someone was an affiliate who made $50 and was also a player who made $5000 from playing, they would be able to collect the $5000.
Good for player/affiliates. Not so good for affiliates who simply had an FTP account to collect affiliate earnings.
It sure looks that way, Keith. What surprises me about the reimbursement fund is that there seems to be a tremendous amount of money in it; a relatively small number of claims; and plenty of excuses for why it’s not going to be enough to pay everyone off.
Agreed. From their own notice, they have sent out 1.4 million emails and received only 27,000+ claims. That leaves 1,373,000 or so players yet to file, not counting affiliates who didn’t get the email at all yet.
Even if all of those not filing a claim had $1 measly dollar in their account, that’s still 1.3 million USD unclaimed. I’m guessing GCG will draw a fee on whatever balance is left until the fund runs completely dry?
I’m in da’ wrong bid-ness…